June 22
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The Armenian government plans to change the structure of the economy. Minister of economy Vahan Kerobyan stated about this at Tuesday’s parliamentary standing committees’ joint debates on Armenia’s draft state budget for 2022.

In his words, according to this draft budget, it is planned to allocate about 17 billion drams (approx. US$35.8 million) to the agricultural sector of the Ministry of Economy.

"The government has set a goal before itself to ensure 7-9% annual economic growth in the next five years. One of the most important things we need to do for this is to change the structure of the economy and move from consumption-based economic growth to investment-based economic growth," the minister said.

According to Kerobyan, the Armenian authorities are interested in serving and accompanying the investments.

"At least, until the moment when the investors will start their direct activities. Also, it is planned to introduce certain incentive mechanisms," the Minister of Economy added.

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